2172 S 84th St Unit 2174R, 2176R · West Allis, WI 53227

$314,900

None bd · None ba · — sqft · MultiFamily · 10 Days on market

Built 1922 Fair condition 4,791 sqft lot

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +27.1/30.0
• DSCR +9.4/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Your search ends here. .. .looking for an investment property with solid long term tenants who treat the property as it was their own? Or perhaps prefer to owner occupy this gem? This is the perfect property to add to your portfolio -- rare opportunity for this unique duplex/triplex that is wonderfully maintained. Front unit is a studio. Back two units are 1 bedroom. Off street parking with driveway . Month to month tenants in all 3 units, with rear lower tenant moving 05/31/23. Close to shopping, dining, and transportation; endless opportunities await! Also listed under MLS 1830402 as a duplex. Wall could easily be removed between two lower units to allow for a larger first floor unit.

Key facts

• Long-term tenant
• Flexible setup
• Versatile property

Tags

• INVESTMENT OPPORTUNITY
• VERSATILE PROPERTY
• UNBEATABLE LOCATION
• OFF-STREET PARKING
• LONG-TERM TENANT
• FLEXIBLE SETUP

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/1-bath units multifamily listed at $315k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $894 ($11k/yr) — positive. Per door: $298/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $315k).
• Cap rate 9.7% vs local median 4.3% in West Allis — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 79/100 on livability (#69 in WI, #1,958 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities F.
• West Allis-West Milwaukee School District (urban): math 17% / reading 26% proficiency, ranked #328 of 342 in WI (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 35 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 1,017 units permitted in Milwaukee County in 2024 (803 in 5+ unit buildings).
• At $3,886/mo this rent would consume 64% of the median local household income ($73k/yr) (locally 905% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Milwaukee County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $88k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y ago; this cycle's ask is 43% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $230k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $314,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.23% ✓
• Cap rate: 9.70%
• Cash-on-cash: 12.16%
• DSCR: 1.54
• GRM: 6.8

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2179 S 84th St #2181	0.03mi	4/2.5	1,608	0mo	$345,471	$215	86
2179 S 83rd St #2181	0.03mi	4/2.0	2,804	1mo	$370,000	$132	85
2023 S 83rd St	0.21mi	3/2.0	1,453	0mo	$300,000	$206	77
2043 S 81st St #2045	0.23mi	4/3.0	1,489	1mo	$349,000	$234	76
2196 S 79th St	0.29mi	3/2.0	1,640	1mo	$287,000	$175	73
2175 S 89th St #2177	0.34mi	4/2.0	1,936	0mo	$301,000	$155	71
2040 S 78th St	0.40mi	4/2.0	1,652	0mo	$200,000	$121	68
2033 S 77th St	0.46mi	—/—	2,302	1mo	$280,000	$122	65
1601 S 85th St	0.58mi	—/—	3,750	1mo	$310,000	$83	59
2436 S 75th St #2438	0.64mi	4/2.0	1,800	1mo	$350,000	$194	57
2222 S 72nd St	0.74mi	3/2.0	1,577	1mo	$296,000	$188	52
1508 S 81st St	0.73mi	—/—	—	1mo	$272,500	—	52

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.8%
• Equity multiple: 1.07×
• Total profit: $5,954
• Equity at exit: $46,953

10-year hold

• IRR: 11.4%
• Equity multiple: 1.89×
• Total profit: $78,720
• Equity at exit: $27,227

Cash invested: $88,172 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Wisconsin: 73 Landlord-Friendly · R+2
• County: — inherits STATE
• City: — inherits STATE

5-day notice; preempted; Madison / Milwaukee have some local enforcement.

Methodology + full state rankings →

ZIP-level market 53227

• Home prices YoY: -29.2%
• Active inventory: 35
• Price-to-rent: 20.3×

Monthly cashflow live

• Estimated rent: $3,886 high
• Mortgage (P&I): −$1,651
• Tax est. 1.5%: −$394 /mo · $4,724/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$816
• Net cashflow: $894

Break-even live

Break-even rent $2,755

Max offer price $314,900

Occupancy floor 72%

Sensitivity live

Price	-10% $1,111	-5% $1,003	+0% $894	+5% $785	+10% $676
Rent	-10% $587	-5% $740	+0% $894	+5% $1,047	+10% $1,201
Rate	-1.0pp $1,052	-0.5pp $974	base $894	+0.5pp $812	+1.0pp $729

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$3,885
Total (3 units)			$3,886

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $78,725
• Closing costs: $9,447
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2238 S 82nd St Milwaukee, WI	2.0	1.0	1000	$1,360	$1.36	4d	1	0.17mi
2034 S 81st St West Allis, WI	2.0	1.0	900	$1,800	$2.00	4d	1	0.23mi
2028 S 81st St West Allis, WI	2.0	1.0	930	$1,600	$1.72	24d	1	0.24mi
8734 W Becher St Milwaukee, WI	2.0	1.0	1500	$2,300	$1.53	13d	1	0.29mi
8530 W National Ave West Allis, WI	1.0–3.0	1.0–2.0	1037	$2,442	$2.35	2d	6	0.32mi
2008 S 79th St Unit 2008 Upper West Allis, WI	1.0	1.0	—	$950	—	15d	1	0.34mi
9129 W National Ave Unit 4 Milwaukee, WI	2.0	1.0	1090	$1,225	$1.12	4d	1	0.47mi
2036 S 92nd St West Allis, WI	1.0	1.0	—	$950	—	22d	1	0.52mi
1501 S 84th St Unit 8405 Upper West Allis, WI	2.0	1.0	950	$1,195	$1.26	4d	1	0.62mi
9304 W Hayes Ave Milwaukee, WI	2.0	1.0	1000	$1,600	$1.60	24d	1	0.64mi
1482 S 84th St Milwaukee, WI	1.0–2.0	1.0–2.0	1082	$2,500	$2.31	2d	32	0.66mi
7205 W Becher St Unit 7205-06 West Allis, WI	1.0	1.0	—	$900	—	18d	1	0.72mi
7205 W Becher St Unit 7205-05 West Allis, WI	1.0	1.0	—	$900	—	4d	1	0.72mi
7745 W Beloit Rd Milwaukee, WI	3.0	1.5	1500	$1,875	$1.25	4d	1	0.75mi
2180 S 96th St West Allis, WI	2.0	1.0	—	$1,225	—	4d	1	0.76mi
1624 S 75th St West Allis, WI	1.0	1.0	—	$875	—	15d	1	0.76mi
1526 S 92nd St Unit 4 West Allis, WI	1.0	1.0	—	$950	—	4d	1	0.76mi
1427 S 86th St West Allis, WI	3.0	1.0	998	$1,399	$1.40	13d	1	0.76mi
1467 S 78th St Milwaukee, WI	2.0	1.0	1000	$1,500	$1.50	13d	1	0.79mi
1553 S 75th St Unit 1553 West Allis, WI	2.0	1.0	1008	$1,595	$1.58	4d	1	0.81mi
7007 W Becher St West Allis, WI	1.0	1.0	800	$975	$1.22	24d	1	0.83mi
1732 S 71st St Unit 1732 West Allis, WI	3.0	1.0	912	$1,795	$1.97	13d	1	0.92mi
1924 S 69th St Unit My West Allis, WI	2.0	1.0	—	$1,395	—	4d	1	0.97mi
7500 W Greenfield Ave Unit 7504 Upper West Allis, WI	2.0	1.0	844	$1,250	$1.48	24d	1	0.98mi
2716 S Cleveland Park Dr Milwaukee, WI	3.0	2.5	—	$3,000	—	3d	1	1.01mi
9929 W Lincoln Ave West Allis, WI	1.0	1.0	—	$950	—	13d	1	1.02mi
6901 W Mitchell St Unit 6903 West Allis, WI	2.0	1.0	800	$945	$1.18	4d	1	1.02mi
6901 W Mitchell St Unit 6903 West Allis, WI	2.0	1.0	800	$1,150	$1.44	24d	1	1.02mi
2551 S 68th St Milwaukee, WI	2.0	1.0	—	$1,195	—	5d	1	1.08mi
2640 S 69th St #2642 Milwaukee, WI	2.0	1.0	1200	$1,549	$1.29	44d	1	1.09mi
1461 S 98th St Unit 1491-207 Milwaukee, WI	2.0	2.0	1200	$1,375	$1.15	4d	1	1.11mi
1444 S 70th St West Allis, WI	1.0	1.0	800	$979	$1.22	17d	3	1.14mi
6521 Beloit Rd Apt 4 West Allis, WI	1.0	1.0	800	$935	$1.17	4d	1	1.16mi
8307 W Oklahoma Ave #12 Milwaukee, WI	1.0	1.0	—	$995	—	24d	1	1.19mi
8509 W Oklahoma Ave Milwaukee, WI	2.0	1.0–2.0	—	$1,388	—	44d	2	1.19mi
9060 W Oklahoma Ave West Allis, WI	2.0	2.0	850	$1,624	$1.91	24d	3	1.20mi
7811 W Oklahoma Ave #3 Milwaukee, WI	2.0	1.0	—	$1,195	—	44d	1	1.22mi
812 S 87th St Milwaukee, WI	2.0	1.0	979	$1,500	$1.53	4d	1	1.24mi
6406 W Lincoln Ave Unit 32 West Allis, WI	1.0	1.0	850	$920	$1.08	4d	1	1.24mi
734 S 91st St Unit upper West Allis, WI	2.0	1.0	635	$975	$1.54	24d	1	1.32mi

Listing history 23 events

1. 2026-06-21
   days on market $314,900 Active 10 DOM
2. 2026-06-18
   days on market $314,900 Active 7 DOM
3. 2026-06-17
   days on market $314,900 Active 6 DOM
4. 2026-06-16
   days on market $314,900 Active 5 DOM
5. 2026-06-15
   days on market $314,900 Active 4 DOM
6. 2026-06-13
   days on market $314,900 Active 2 DOM
7. 2026-06-13
   pricedays on marketlisting id $314,900 Active 1 DOM
8. 2026-06-10
   price $324,800 Active 11 DOM
9. 2026-06-09
   days on market $324,899 Active 11 DOM
10. 2026-06-08
    days on market $324,899 Active 10 DOM
11. 2026-06-08
    days on market $324,899 Active 9 DOM
12. 2026-06-03
    pricedays on market $324,899 Active 5 DOM
13. 2026-06-02
    days on market $324,900 Active 4 DOM
14. 2026-06-01
    days on market $324,900 Active 3 DOM
15. 2026-05-31
    days on market $324,900 Active 2 DOM
16. 2026-05-22
    historical $324,900
17. 2023-05-10
    status Pending 696-char remark

    Show marketing remark (696 chars)

    Your search ends here. .. .looking for an investment property with solid long term tenants who treat the property as it was their own? Or perhaps prefer to owner occupy this gem? This is the perfect property to add to your portfolio -- rare opportunity for this unique duplex/triplex that is wonderfully maintained. Front unit is a studio. Back two units are 1 bedroom. Off street parking with driveway . Month to month tenants in all 3 units, with rear lower tenant moving 05/31/23. Close to shopping, dining, and transportation; endless opportunities await! Also listed under MLS 1830402 as a duplex. Wall could easily be removed between two lower units to allow for a larger first floor unit.

18. 2023-05-10
    soldstatus $230,000 Sold 696-char remark

    Show marketing remark (696 chars)

    Your search ends here. .. .looking for an investment property with solid long term tenants who treat the property as it was their own? Or perhaps prefer to owner occupy this gem? This is the perfect property to add to your portfolio -- rare opportunity for this unique duplex/triplex that is wonderfully maintained. Front unit is a studio. Back two units are 1 bedroom. Off street parking with driveway . Month to month tenants in all 3 units, with rear lower tenant moving 05/31/23. Close to shopping, dining, and transportation; endless opportunities await! Also listed under MLS 1830402 as a duplex. Wall could easily be removed between two lower units to allow for a larger first floor unit.

19. 2023-04-17
    historical Contingent 41-char remark

    Show marketing remark (41 chars)

    SOLD under MLS 1830406 as a multi-family.

20. 2023-04-17
    historical Contingent 696-char remark

    Show marketing remark (41 chars)

    SOLD under MLS 1830406 as a multi-family.

21. 2023-04-17
    historical 41-char remark

    Show marketing remark (41 chars)

    SOLD under MLS 1830406 as a multi-family.

22. 2023-04-13
    listed $219,900 Active 696-char remark

    Show marketing remark (41 chars)

    SOLD under MLS 1830406 as a multi-family.

23. 2023-04-13
    listed $219,900 Active 41-char remark

    Show marketing remark (41 chars)

    SOLD under MLS 1830406 as a multi-family.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,632
• − Mortgage interest: −$17,639
• − Property taxes: −$4,724
• − Insurance: −$1,574
• − Repairs & maintenance: −$3,731
• − Management: −$3,731
• − Depreciation: −$9,161
• Taxable income: $6,073
• Est. tax owed @ 24.0%: −$1,457
• After-tax cash flow: $9,267/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate repairs and maintenance, with painting the exterior and landscaping being the highest-ROI updates for both resale and rental value.

Repairs flagged

• Minor Painting exterior — Light wear on siding
• Minor Landscaping — Some overgrown areas

Value-add opportunities

• Both Painting exterior — Enhances curb appeal and resale value
• Both Landscaping — Improves curb appeal and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Painting exterior · Light wear on siding	Minor	$500–3,000
Landscaping · Some overgrown areas	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Painting exterior — Enhances curb appeal and resale value ↑
• Both Landscaping — Improves curb appeal and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: West Allis-West Milwaukee School District
• NCES district ID: 5516260
• Math proficiency: 17% ▼ -16.00%
• Reading proficiency: 26% ▼ -12.00%
• Median HH income: $45,620
• Composite: 18.71/100
• National rank: #8881
• State rank: #328 of 342 in WI

Livability — West Allis

• Score: 79/100
• State rank: #69
• US rank: #1958

Category grades

Amenities F Commute A+ Cost of living A+ Crime C+ Employment C+ Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Allis, WI
• County: Milwaukee County · 926,379 people
• City population: 57,365
• Metro: Milwaukee-Waukesha, WI
• Population (ZIP): 22,885
• Household income: $73,321
• Rent vs Own: 49.9% rent · 50.1% own
• Severe rent burden: 905.0

Population outlook (Milwaukee County) Hauer SSP2

• Today (2025): 995,758 people
• By 2030: 1,009,124 · +1.3%
• By 2040: 1,028,128 · +3.3%
• By 2050: 1,040,066 · +4.4%
• By 2075: 1,057,849 · +6.2%
• By 2100: 1,039,774 · +4.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 12% Two or more races 11% Black 5% Asian 4%
• Hispanic origin (detail): Mexican 7% Puerto Rican 3%
• Common ancestry: Romanian 15% Lithuanian 3% Italian 2%
• Foreign-born: 5% · Canada
• Languages at home: 88% English-only · Spanish 6% Other Asian/Pacific 2% Other Indo-European 1%

Political lean MEDSL · Milwaukee

• 2024 margin: Solid D (+38.5) · D 68.3% · R 29.8% · Other 1.8%
• 2008→2024 swing: +2.7pp toward D · 2008: 35.9pp · 2024: 38.5pp
• All cycles: 2024: D+38.5 2020: D+39.9 2016: D+37.5 2012: D+34.6 2008: D+35.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -103.81%
• Current HPI: 251.8597
• Rent YoY: —
• Metro: Milwaukee-Waukesha, WI
• State GDP YoY: ▲ 2.10%
• F500 in state: 20

Industry mix (Fortune 500 HQ in WI)

Industry	F500 HQs	Revenue
▸Industrial Machinery	4	$23B
▸Industrial Technology	2	$36B
▸Insurance	1	$36B
▸Professional Services	1	$19B
▸Utilities	1	$9B
▸Consumer Goods	1	$3B

Price history

+47.7% since first listed

8 events — show timeline

• 2026-05-22 Coming Soon $324,900 METROMLS
• 2023-05-10 Pending — METROMLS
• 2023-05-10 Sold (MLS) $230,000 METROMLS
• 2023-04-17 Contingent — METROMLS
• 2023-04-17 Contingent — METROMLS
• 2023-04-17 Listing Removed — METROMLS
• 2023-04-13 Listed $219,900 METROMLS
• 2023-04-13 Listed $219,900 METROMLS